Slope of Hope Blog Posts
Slope initially began as a blog, so this is where most of the website’s content resides. Here we have tens of thousands of posts dating back over a decade. These are listed in reverse chronological order. Click on any category icon below to see posts tagged with that particular subject, or click on a word in the category cloud on the right side of the screen for more specific choices.
As we await the Fed…………….Three biotechs, along with recent IPO Pinterest (PINS), are among our four charts to watch today.
G1 Therapeutics, Inc. (GTHX) jumped $4.75, or 24%, to $24.50 on 2.2 million shares Tuesday. The move, on over 5 times its average volume, came on news of encouraging data from the company’s phase 2 study of its trilaciclib treatment for metastatic triple-negative breast cancer. The stock has next resistance at its May high at $27.90, a move through which could take it to $30.
Two China stocks are among our top charts to watch today.
Qudian Inc. (QD) gained 38 cents to $7.71 on heavy volume of 8.7 million shares Tuesday. The move came on no news from the provider of online consumer credit products in China. The stock recently pulled back from its April high near $8.80 to test rising channel support near $6, and has since formed a sideways wedge, which it broke out of on Tuesday. A move through resistance at around $7.75 could take the stock to the May highs near $8.50 next.
These four stocks in the high-momentum technology, biotech and mining areas are on the move.
Advanced Micro Devices, Inc. (AMD) leapt $1.99 to $29.57 on 107 million shares Tuesday. On Monday the chipmaker announced a deal to license its custom graphics intellectual property (IP) to Samsung for use in mobile devices. The stock has broken out of a 2-month sideways channel, and any move across the $29.75 range could get this into the mid-$30’s.
Three stocks that had been digesting recent gains now appear to be on the rise again.
ArQule, Inc. (ARQL) gained 42 cents to $7.17 on 2.6 million shares Tuesday. The move, on more than 1/2 times its average volume, came on no news from the biopharmaceutical company. The stock broke out of a month-long wedge pattern last week and backed off before Tuesday’s move. It edged above resistance at the July high of $7.21 intraday. A follow-through could get it to $8.50 next.
Here are four stocks to watch with strong technical momentum fueled by earnings and other news.
Axsome Therapeutics, Inc. (AXSM) gained 39 cents to $19.54 on Tuesday on 1.4 million shares. The biotech company announced Monday that the FDA granted Breakthrough Therapy Designation for its therapy for major depressive disorder. The stock has been a huge climber this year, starting the year under $3. After flagging in the last week, it looks poised to continue the uptrend, with the next target towards the channel top near $24.
These three health and technology stocks are seeing technical strength ahead of upcoming earnings.
Evolus, Inc. (EOLS) gained 50 cents to $26.44 on 537,100 shares Wednesday. The performance beauty company said it will release earnings after the close on April 30. The stock is right on the verge of taking out the declining tops line of its nearly 3-month consolidation that followed its big surge in January and early February. A move through the March 19 high near $28 could take the stock to next lateral resistance at $30.
Extreme Networks, Inc. (EXTR) rose 29 cents to $8.26 on 2.1 million shares Wednesday, nearly 1 1/2 times its average volume. The software-driven networking company will announce earnings before market open on May 1. The move popped the stock out of a nearly 2-month resistance line and mini base. Watch for a test of next resistance at $8.75 just above the February high.
Marijuana stocks are among our top charts to watch today.
Aurora Cannabis Inc. (ACB) rose 8 cents to $8.96 on 21.3 million shares Wednesday. Bank of America Merrill Lynch named the company as one of three marijuana stocks to buy. The stock, after sharp year-to-date gains, has been consolidating in recent weeks, but may be on the verge of its next leg up with cannabis stocks in general. Next target is around $10.50, above its March high.